Why Did Intel Stock Pop on Wednesday?
Intel (NASDAQ: INTC) stock soared 10.8% through 11:35 a.m. ET Wednesday after Bernstein SocGen Group analyst Stacy Rasgon raised his price target from $35 to... $36.
Does a 10% stock price pop seem an overreaction to you, coming in response to a less than 3% increase in price target? It does to me -- especially when you notice that Intel stock already costs more than $53 a share!
In fact, Rasgon only rated Intel stock "market perform" and declined to upgrade it. But here's the thing: Rasgon isn't the only Wall Street analyst talking about Intel today.
Source Fool.com
Intel Corp. Stock
€84.34
-0.210%
Our community is currently high on Intel Corp. with 46 Buy predictions and 25 Sell predictions.
On the other hand, the target price of 74 € is below the current price of 84.34 € for Intel Corp., so the potential is actually -12.26%.
